Local firm Kazi Kenya is among four companies that have been enlisted by the Catalyst Fund to its portfolio of 45 companies.
Kazi Kenya connects skilled and casual informal workers with jobs on-demand and provides them with access to business advisory and financial services such as digital payments and tools leasing.
The firms will receive catalytic capital, bespoke and expert-led venture support from BFA Global, as well as direct connections with investors and corporate investors that can help them to scale up.
Catalyst Fund is an accelerator that supports inclusive tech innovators in emerging markets.
It supports the impact companies offering accessible, affordable, and appropriate solutions, designed for underserved individuals and micro and small enterprises, and accelerates the local ecosystems around them.
PayPal’s chief corporate affairs officer Franz Paasche said that they are proud to partner with Catalyst Fund to support the innovative startups at the forefront of developing new tools and technologies focused on the intersection of financial inclusion and climate resilience.
“At PayPal, we believe that financial technology can help underserved individuals and communities build resilience to climate-related disasters and capture economic opportunities in the global climate transition,” Paasche said.
Head of financial services Kim Bromley said that Catalyst Fund support will help fintech companies to deliver more sustainable outcomes-increasing their customers.
“Investing in digital solutions for climate resilience is essential to building a greener, more inclusive future for African economies,” Bromley said.
Other companies enlisted to the portfolio include Ohm Mobility (India,) PocketFin (India), and Verqor from Mexico which offers affordable agro-financing.
Startups in this cohort were approved by Catalyst Fund’s Investor Advisory Committee (IAC), comprising experienced fintech and emerging markets investors.
